Mumbai, Aug 14
A shocking case of cyber fraud has emerged from the Malad area of Maharashtra's Mumbai, where three cyber fraudsters allegedly cheated a local businessman of lakhs by falsely promising a loan under the Pradhan Mantri MUDRA Yojana (PMMY).
The accused, identified as Nitin Kumar, Ashwin Kumar, and Dayashankar Mishra, have been booked by the Cyber Cell of the North Regional Division under charges of cheating and relevant sections of the Information Technology Act.
According to police, the complainant, who runs an imitation jewellery packaging business in Malad, needed a loan of Rs 10 lakh to expand his business. In June 2025, he downloaded a mobile application and applied for a loan.